Rapid clinical volume acceleration
Delivered >7,800 clinical tests in Q1 2026, a 26% sequential increase vs Q4 and a 258% year-over-year increase, with a 2026 annual volume target of 43,000 to 45,000 tests.
Strong clinical adoption and retention
Surpassed 1,000 ordering physicians in the quarter and reported physician retention above 98% over recent quarters, indicating deepening usage and customer stickiness.
Compelling clinical and real-world data
Key evidence highlights: NeoPrism CRC collaborators reported 100% negative predictive value for relapse in a colorectal cohort; real-world testing of 10,000 patients showed ~40% of positive detections in the ultrasensitive range (<100 ppm) across 14 cancer types; DARWIN II data showed early ctDNA clearance linked to a ~5x higher likelihood of 3-year progression-free status.
Product and roadmap progress
Launched a pilot of the real-time Variant Tracker to monitor tumor biology changes during therapy, expanding clinical utility beyond presence/absence MRD detection.
Growing MRD biopharma opportunity
Q1 biopharma MRD revenue was $3.1M with a full-year MRD revenue target of $20M–$21M; strategic revenue (clinical + biopharma MRD adoption) was $4.5M in Q1 with guidance to more than double strategic revenue to $30M–$32M for 2026.
Reimbursement progress and clinical revenue ramp
Medicare coverage wins for breast (Nov 2025) and lung (Feb 2026) surveillance are live; clinical revenue grew to $1.4M in Q1 from $0.3M in Q1 2025 (~+367%), supporting higher ASPs and future margin expansion as reimbursed volume scales.
Strong liquidity and runway
Ended Q1 with $233.2M in cash and short-term investments, no material debt, and used ~$28M of cash in Q1 (including a ~$5M one-time incentive payment), supporting planned investments to scale MRD strategy.